Affordable HousingRISC

RISC steps in to address affordable housing crisis in Richmond

By June 11, 2014July 28th, 2016No Comments

Richmond, VA – In 2010, RISC decided to tackle the severe shortage of affordable housing in Richmond.  RISC leaders found that almost one in four Richmonders pays 50% or more of their income on housing (30% or more is deemed unaffordable according to the U.S. Department of Housing).  Families that pay more than 50% of their income on housing are at greater risk of becoming homeless.   With close to 1,200 people present at RISC’s 2014 Nehemiah Action, the Mayor of Richmond allocated $1 million dollars for the Affordable Housing Trust Fund in his 2014-2015 budget. The Affordable Housing Trust Fund will create affordable housing and several hundred jobs within the city of Richmond. Funding is expected to begin in the winter of 2014.